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I quite like my spot, boy . :D Be careful, a bit of random flux could take you out of the nazz

long june es @ 1925, stop 15 points

stopped out of Russell, tiny loss

Have a profit target for say half your position and the other half you can try and run as much as possible, move protective stops to protect open profits. Can be very discretionary as to how you do move stops up as is profit target.

"I was a boxer-counterpuncher....in and out, bob and weave...i didn't take wild swings...I never put myself into a position where i could be knocked out. It was a safe, unspectacular approach...for 200 days a year, i'd end up with reasonably small losses netted out with similar sized gains. Lose...

I think everyone is waiting for the big event tomorrow...announcement by ECB of QE.

sold a bit more dax at 9885

so we've gone from 11 losers (OP post) to 2/3 losers (dp post) and now are at (Soros ) 17 losers in a row! :D Soros has a low batting average. In contrast, Buffett has a very high one. Both are at the top of the game. Tells you it doesn't matter if you have a low or high win rate...all to do...

:confused: i wish i had a 33% win rate :(

:confused:

Don't have to make any assumptions. I can prove that someone actively trading with a 80% win rate will, at some point, have 3 consecutive losing trades. If that's the case, then someone (Soros?) with a less than 30% win rate is even more likely to have 3 losers in a row.

Actually, even if your win rate was a massive 80%, you would experience a sequence of 3 losses in a row on average, once in 125 trades! :D

:confused: But if he has a less than 30% win rate which is implied by the quote, he must then have streaks of 3 or more losses, which according to you means he does not have a thoroughly-tested, and consistently-profitable trading plan and therefore is trading the GA way! :confused:

Better refer George Soros there quick then: "George has a terrible batting average - it's below 50% and possibly even below 30% - but when he wins, it's a grand slam" - Scott Bessent, former head of Soros Fund Management, London, quoted from Inside the House of Money by Drobny

What do you mean by "GA approach to trading"?

Look at the streaks of losses...7 in a row! Also note that 1 trade out of the 17 counts for all the profit, the rest just wash out. That's what trading is about, loads of small losses netted out with small winners, with the top few trades (say 5-10% of your trades) making your week (or month...

My most recent trades, 29% win rate: -0.02% -0.30% -0.23% -0.22% -0.67% -0.33% -1.31% 0.47% 2.15% -1.16% 3.22% -0.24% -0.13% 0.39% 1.70% -0.08% -0.11% total = 3.14%

Disagree. You build an account. You build a track record. The day you stop trading, hopefully you will have a large pot of money. If so, you have something to show for your time. If your track record is good enough, you achieve immortality.

If your approach historically has a high win rate then 11 losing trades means something. If not, then it doesn't mean anything. I'm lucky to be right 30% of the time and have had plenty of 11+ losing streaks.

Trading is v tough. Look for stuff you can control. Commissions are one of them. Whoever your broker is, they love you. IB charges half a cent per share. Go join them instead. The big money is in the big moves which generally take more than a day to develop.